2. Eurozone GDP: The eurozone of 19 countries posted economic growth of 0.3% in the last quarter of 2014, compared with the previous quarter, according to a preliminary estimate. This was towards the high end of expectations.

Both Germany and Spain saw their economies grow by 0.7%, while France and Italy continued to stagnate.

Watch trading in Kraft(KRFT) Friday after the food giant announced a management shake-up and a quarterly loss of $398 million. CEO John Cahill said "we did not deliver to our potential in 2014." Part of the reason behind the loss came from higher commodity prices.

4. Economics: The University of Michigan will post its monthly consumer sentiment index at 10 a.m. ET.